§11-13BB-6. Qualified investment.
(a) General. -- The qualified investment is one hundred
percent of the cost for eligible safety property pursuant to a
qualified purchase, which is placed in service or use in this state
by the eligible taxpayer during the tax year.

(b) Placed in service or use.-- For purposes of the credit
allowed by this article, property is considered placed in service
or use in the earlier of the following taxable years:

(1) The taxable year in which, under the taxpayer's
depreciation practice, the period for federal income tax
depreciation with respect to the property begins; or

(2) The taxable year in which the property is placed in a
condition or state of readiness and availability for a specifically
assigned function.

(c) Cost. -- For purposes of this article, the cost for
eligible safety property pursuant to a qualified purchase is
determined under the following rules:

(1) Trade-ins. -- Cost for eligible safety property will not
include the value of property given in trade or exchange for
eligible safety property pursuant to a qualified purchase;

(2) Damaged, destroyed or stolen property. -- If eligible
safety property is damaged or destroyed by fire, flood, storm or
other casualty, or is stolen, then the cost for replacement of the
eligible safety property, will not include any insurance proceeds
received in compensation for the loss;

(3) Rental property. -- The cost for eligible safety property
acquired by lease for a term of at least five years or longer is
one hundred percent of the rent reserved for the primary term of
the lease, not to exceed ten years; and

(4) Property purchased for multiple use. -- Any cost of
acquisition of property that is not principally and directly used
to minimize workplace injuries and fatalities in a coal mine does
not qualify as qualified investment for purposes of this article.